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remoo · 2020年03月14日

问一道题:NO.PZ2018062012000012

问题如下:

Which of the following statements regarding commercial mortgage-backed security (CMBS) is correct?  

选项:

A.

Call protection will improve the credit rating of CMBS.

B.

Some CMBS are recourse loan.

C.

Balloon payment in CMBS is credit positive for investor.

解释:

A is correct.

CMBS are no recourse loans. Balloon payment increased extension risk for investor, which is credit negative.

在CMBS中的Call Protection 并不是一种option,而是一种trench是吗?

1 个答案

吴昊_品职助教 · 2020年03月15日

call protection(prepayment protection)是对于call option的一种保护。它限制借款人在利率下行时提前还款,只能说起到了类似于分层的作用。